We have a couple of members and Sam in particular whop has been with us since the start (that would be right wouldn't it Sam?) who know "who's who in the zoo" over at Twitter and they follow traders and give regular sentiment updates as the waves of sentiment in retail are much like the flocking of sheep.
As I said, just about the end of August, the bearish retail sentiment was off the charts. This was one of the first reasons I suspected we'd be seeing a bounce soon to shake up the herd. I have previously said that retail chase the market and it takes about two days of real market movement to switch their sentiment from bullish to bearish and vice-versa.
This is the sentiment update from today, just as I always talk about, Retail chasing the market...
General Sentiment:
"Odds still favor that this rally continues after any near-term pause"
"BTFD still working!"
"Hi Brandt,
I wanted to comment how funny these retail traders are on twitter. One big observation that I made that sets us apart from them is they get swayed by every squiggle in the market and are constantly deceived by price action. While we are sitting for further confirmation from 3c they are chasing prices up and down. I can't imagine what a stressful way to trade that is."
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